STATE OF BUSINESS: Stabilized Market

"When everybody is cautious," runs
an old Wall Street adage, "the danger is about over." Last week there
were signs that Wall Street investors were beginning to tread softly
because of the worrisome speculative fervor of recent weeks. The New
York Stock Exchange was so concerned at the rush for low-priced stocks
that it asked members to discourage uninformed speculation. Brokers
themselves started to boost house margin requirements on lists of
volatile stocks. Others took to the newspapers with ads warning small
stockholders not to try for quick killings. The effect was like a tonic
on a market that had...